all data is live and searchable
|
Basic Assignments
|
Options & Settings
|
Main Time Information
|
||||||||||||||||||||||
|
|
|
Blue
|
|
||||||
|
||||||
|
|
|
Notes:
|
|
Talking to Steve on the phone on 11/20/07: Payables need reverse logic compared with receivables. Tons of ways to create payables: - Stock - Trade-in - Payroll - Need check - PO - Statements - Hit bank Need: - Multiple payments - Aging Request vs. Payables: - Make sure bill or request is valid - Approve Charge to store expense (income statement) Charge to balance sheet (balance sheet) Income Statement: (income statement expenses) - Interest - Advertising - People - Fixed expense - Semi-fixed expense Balance Sheet: - Inventory - Receivable assets - Property & equipment - Liabilities - Capital & equity Inventory: - Corp - Stores - Category - Expense type Ways to track payables: Two models for tracking buying & selling: Selling or Offering: What: Product or Service 0. Quote: (not required) (convert if need to invoice) 1. Invoice: (Revenue statement contract to sell) 2. Payment(s) Received: a. Mini loop that may occur 3. Deposit: (money in) 4. Verify & post (done) A/R – please see sketch in photo gallery: - A/R’s Bucket o Total $ (invoices) o A/R’s (what is owed to us) o Total payment $ - Payments Received: o Checks o Cash o Visa o CC o Deposits - A/R’s will go up and down Buying or Wanting: What: product or service 0. Expense Request (check request & payable request – not required) – convert to E/R if needed a. Approval or Disapproval 1. Expense/Receipt – (contract to buy or pay) 2. Payment(s) Made – mini loop that may occur 3. Withdrawal – (money out) 4. Verify & post (done) A/P’s – Please see sketch in photo gallery - A/P’s Bucket: o Total $ out (due) – (expense/receipts) o A/P’s – what we owe o Total payment $ made - Payments Made: o Checks o Cash o EFT o Withdrawals - AP’s will go up and down *”Make things adjustment FREE!” “Keep it simple.” - Request - Payables - Aging on payables - Expense types – destinations - Balance sheet items |